The Management Board of Mostostal Warszawa S.A. informs that today the company signed with Medical Investment Trust Sp. z o.o., a contract for “the execution of works under the general contractor for the investment involving the construction of the hotel building with apartments at the intersection of Mestwina and Międzymorze in Jurata with an underground garage with land development and technical infrastructure on the plot with registration number 326 of 0003 precincts Jastarnia".

The parties agreed the deadline for the completion of contract till 6 February 2018. 
The value of the contract amounts to PLN 14.50 million net.

Payment deadline: 30 days from the date of filing the invoice.

Guarantee periods: 60 months for the quality guarantee and guarantee for physical defects in the object of the contract.

The security for the proper performance of subject of the Agreement and claims arising from it is unconditional insurance performance guarantee of 10% of net salary. In the guarantee and warranty period the Contractor shall provide an unconditional and payable on each request bank or insurance guarantee removal of faults and defects after the final acceptance of the subject of the Agreement in the amount of 5% of the net salary.

The Management Board of Mostostal Warszawa S.A. (“Company”) in reference to the press release of 29 April 2015 on signing a framework agreement for the granting of contractual guarantees as part of the revolving limit (“Agreement”) with Generali Towarzystwo Ubezpieczeń S.A. informs that an annex to the Agreement was signed today.

The following changes were introduced as part of the annex to the Agreement:

• the term of the Agreement was extended onto 19 May 2018;

• the total revolving limit for contractual guarantees is determined in the amount of PLN 25,000,000 (in words: twenty five million zlotys), whereas:

- the amount of individual guarantee issued as part of the Agreement cannot exceed PLN 10,000,000 (in words: ten million zlotys).

- the maximum term of an individual guarantee issued as part of this Agreement cannot exceed:

a) 6 months for the bid bond payment;

b) 84 months for the performance bond for the contract + 30 days for release of the bond;

c) 84 months for the guarantee for removal of defects plus 30 days for release of the bond;

d) in case of joint issue of a performance bond for the contract and guarantee for removal of defects, their maximum total term cannot exceed 96 months (whereas the period of guarantee for removal of defects cannot be longer than 84 months) plus 45 days for release of the Bond;

e) 60 months for the guarantee for return of advance payment.

The remaining terms of the Agreement are unchanged and the remaining terms of the framework agreement for the granting of contractual guarantees as part of the revolving limit do not diverge from the provisions commonly applied in agreements of this type.